A very British binge: The housing market is a huge problem in Britain. Blame the government, not the banks

A very British binge: The housing market is a huge problem in Britain. Blame the government, not the banks

May 24th 2014 | From the print edition

HAVING risen by 8% in the past year, British house prices are almost back to the double-digit pace that preceded the financial crisis. That parallel makes many anxious. Vince Cable, the business secretary, calls runaway house prices a “real, real, real worry”. Sir Jon Cunliffe, the central banker responsible for Britain’s financial stability, says housing is “too dangerous to ignore”. David Cameron, the prime minister, describes the rampant market as the biggest risk to Britain’s recovery.

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China’s War on English; To bolster Chinese language and culture, the government is demoting English in schools

http://www.businessweek.com/articles/2014-05-22/china-moves-to-protect-its-language-from-english

China’s War on English

By Dexter Roberts May 22, 2014

Chinese authorities are waging a war on American culture and the use of English. In April, China’s media regulators yanked the popular U.S. television shows The Big Bang Theory, NCIS, and The Good Wife from Chinese streaming websites Sohu (SOHU) andYouku (YOKU). The official party newspaper, People’s Daily, ran two editorials in April bemoaning the use of words borrowed from English when speaking Chinese. Then in mid-May came a flurry of reports in the state media confirming plans announced last fall to reduce the importance of English-language instruction and to expand courses on traditional culture in grade school and high school. Read more of this post

Due to a squabble between KB Financial Group and Kookmin Bank, the effectiveness of financial holding groups’ corporate governance is being questioned nearly 15 years after the government adopted the system

Structure of bank groups is called into question

Political appointees are issue

May 23,2014

Due to a squabble between KB Financial Group and Kookmin Bank, the effectiveness of financial holding groups’ corporate governance is being questioned nearly 15 years after the government adopted the system. Read more of this post

China’s largest steel trader, China Minmetals Corp opened its e-commerce platform to other dealers to help the sector handle overcapacity and a credit crunch

Steel traders in China look to the internet to solve woes

Xinhua

2014-05-23

China’s largest steel trader, China Minmetals Corp (CMC), on Tuesday opened its e-commerce platform to other dealers to help the sector handle overcapacity and a credit crunch. Read more of this post

Thailand Coup: Politicians Banned From Leaving

Thailand Coup: Politicians Banned From Leaving

The country’s armed forces summon ousted political leaders as an international outcry grows over the military coup.

9:26am UK, Friday 23 May 2014

Thailand’s army has banned 155 people, including politicians and activists, from leaving the country a day after seizing power in a bloodless coup. Read more of this post

Dick Smith – the entrepreneur who launched a crusade against the foreign ownership of Australian food processors in the late 1990s – says his company’s ”days are numbered”.

Dick Smith says company’s ‘days are numbered’ as local suppliers disappear

May 23, 2014 – 4:44PM

Jared Lynch

Dick Smith with a pallet load of his Australian grown sliced beetroot. Photo: Ben Rushton

Another iconic brand sold: Peters Ice Cream set to be sold to French company

The pool of Australian food producers is shrinking so fast that it is becoming difficult for patriotic players like Dick Smith to stay in business. Read more of this post

Indian e-retailers are so scared of Amazon that they’re all joining forces

Indian e-retailers are so scared of Amazon that they’re all joining forces

By Shruti Chakraborty May 22, 2014

The race to the bottom is on.

India’s biggest players in e-commerce have seen a flurry of activity this week in their efforts to play defense to Amazon’s overtures on their home turf. Amazon has been scaling up its India operations, such as next-day delivery and a slew of TV ads. Read more of this post

Hong Kong court rejects EY’s case that China law protects mainland audit papers

Hong Kong court rejects EY’s case that China law protects mainland audit papers

3:30am EDT

HONG KONG (Reuters) – A Hong Kong court on Friday rejected auditor EY’s contention that Chinese law prohibits the mainland partner of the firm previously known as Ernst & Young from passing on documents related to a former China client. Read more of this post

How to avoid cultural mistakes in Korea

Updated : 2014-05-22 17:48

How to avoid cultural mistakes in Korea

Joel Lee
A post titled “20 Cultural Mistakes to Avoid in Korea” on culture andtravel website Seoulistic. com has generated much chatter for itssarcastic take on aspects of Korean cultural behavior that foreignersregard as odd.  Read more of this post

The Korean financial watchdog to phase out financial holding companies amid a recent conflict between KB Financial Group and Kookmin Bank

Updated: 2014-05-22 19:09

FSC to phase out holding firms

By Chung Ah-young

The financial watchdog will strengthen restrictions on the authority offinancial holding companies amid a recent conflict between KB Financial Group and Kookmin Bank.  Read more of this post

Hyundai heir focuses on emerging markets

Updated : 2014-05-22 20:47

Hyundai heir focuses on emerging markets

Hyundai Motor Group Vice Chairman Chung Eui-sun is apparently seeking to find new momentum in emerging markets in Asia and South America where demand for cars is growing fast. Read more of this post

Indonesian Govt Urged to Stick to ‘Asean Way’ Despite Thai Military Coup

Indonesian Govt Urged to Stick to ‘Asean Way’ Despite Thai Military Coup

By Erwida Maulia & Dessy Sagita on 09:25 pm May 22, 2014

1.  Foreign affairs experts said Indonesia should stay out of Thailand’s domestic affairs despite the escalating situation in the country after that country’s military’s announcement on Thursday that it was taking power in a coup d’etat.

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Singapore Braces for Worsening “Haze” as Indonesia Fails to Halt Slash-and-Burn Clearances

Singapore Braces for Worsening “Haze” as Indonesia Fails to Halt Slash-and-Burn Clearances

By Rujun Shen on 03:43 pm May 22, 2014

1.  The Lion City is approaching its yearly “haze” season, when smoke from forest clearing in Indonesia chokes the air, with this year likely to be worse than 2013′s record pollution thanks to lack of action in Jakarta and an expected El Nino weather pattern.

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Panasonic is considering bringing some of its manufacturing back to Japan, in what would be a rare reversal of Japanese companies offshoring production to China and other Asian countries with lower production costs

Last updated: May 22, 2014 4:27 pm

Panasonic considers bringing production back to Japan

By Jennifer Thompson and Jonathan Soble in Tokyo

Panasonic is considering bringing some of its manufacturing back to Japan, in what would be a rare reversal of Japanese companies offshoring production to China and other Asian countries with lower production costs. Read more of this post

Japan’s trading houses shift focus; The recent tumble in the price of iron ore, a vital steelmaking ingredient, has probably been worrying for Japan’s leading trading houses, the sogo shosha

May 22, 2014 8:16 am

Japan’s trading houses shift focus

By Emiko Terazono

Resources will take a smaller piece of the new investment pie

The recent tumble in the price of iron ore, a vital steelmaking ingredient, has probably been worrying for Japan’s leading trading houses, the sogo shosha. Read more of this post

The macroprudential model back on the financial catwalk; Policy ideas that seem terribly old fashioned to one generation have a habit of being reborn

May 22, 2014 6:08 pm

The macroprudential model back on the financial catwalk

By Gillian Tett

Policy ideas that seem terribly old fashioned to one generation have a habit of being reborn Read more of this post

British companies that bribe foreign officials to win contracts, commit fraud, or launder money, face fines of up to 400 per cent of their illicit profits, under new penalty guidelines

May 22, 2014 11:57 pm

Corrupt companies face fines of 400% of illicit profits

By Caroline Binham, Legal Correspondent

British companies that bribe foreign officials to win contracts, commit fraud, or launder money, face fines of up to 400 per cent of their illicit profits, under new penalty guidelines. Read more of this post

The perils of Asia’s nationalist power game; Modi completes a quartet of combative leaders in the most powerful nations of the region

May 22, 2014 7:12 pm

The perils of Asia’s nationalist power game

By Philip Stephens

Modi completes a quartet of combative leaders in the most powerful nations of the region

India has a new prime minister; and each of Asia’s four most powerful nations is now led by a combative nationalist. The multilateralist assumptions of the postwar order are giving way to a return to great power competition. Nationalism is on the march, and nowhere more so than in the rising east. Read more of this post